Smart Ways Your Business Can Benefit From Online Auctions

It seems as if everyone is talking about online auctions. And why not. There are thousands of online auctions on the internet with more popping up everyday. People love them because they can usually find great bargains. Businesses are now also seeing the benefits of online auctions. Below are five ways your business can benefit from online auctions.

1. Get Rid Of Excess Inventory

You could sell your excess or discontinued products at an online auction. Your unsold inventory is doing you no good sitting around, collecting dust. It's an effective way to make extra income and it won't be a total loss for your business. You could even get lucky and make a profit depending on how much people will bid for your excess inventory.

2. Test Pricing For New Products

An easy way to test new product prices is to see what people will bid for them at an online auction. First, sell your product at three different online auctions. Next, calculate the average selling bid from all three auctions and that will be your selling price for your new product.

3. Sell Your Products

You can get your product in front of a large audience by selling it at an online auction. Some of the bigger auction sites draw over millions of hits a year. The key to being successful is to sell your product at multiple online auctions at the same time. Let's say you sold one product a day from just one auction site. If you sell your product at one hundred online auction sites that would be one hundred sales a day!

4. Start Your Own Online Auction

Drive traffic to your web site by starting your own online auction. People will visit your web site to find bargains and to sell their own products. You will get plenty of repeat visitors from people rebidding on products and adding new products to sell. You could also charge other businesses to advertise on your web site.

5. Lower Your Business Costs

You can find lower prices on business supplies and equipment at online auctions. I'm not saying all the time, but before you go pay retail for a new printer try bidding on one first. A company may be selling them at a lower price at an online auction because they have excess inventory.

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Julia Tang publishes "Smart Online Business Tips", a fresh
and informative newsletter dedicated to supporting people
like you. To find out the best online business opportunities,
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Even when bidding was competitive at the latest apartment auctions, selling prices were below the rating valuations  Interest.co.nzIt was tough going for everyone concerned at this week's main Auckland apartment auctions, with buyers playing hardball and vendors having to grit their teeth ...
NZD traders - heads up for the GDT dairy auction due today (Tuesday, London time)  ForexLiveA preview of the GDT (GlobalDairyTrade) auction scheduled for 19 March 2019 Recent results have shown continued strength: Forecasts are for the index to ...
Fantasy Baseball Podcast: Auction strategy, the Colorado Rockies, and the Cubs and Astros pitching staffs with The Athletic's Gene McCaffrey  Yahoo SportsThe Athletic's Gene McCaffrey joins Scott Pianowski this week on the Yahoo Fantasy Baseball Podcast coming out of their Tout Wars mixed league auction draft ...
Germany's Bid to Catch Up on Digital Age Hinges on 5G Auction  BloombergGermany's effort to catch up to the digital age starts this week when the gavel falls on the auction for the airwaves to build ultra-fast 5G wireless networks.
The Possessions Of An Indian Sultan Expected To Bring Millions At Auction  The Vintage NewsThe Berkshire, England descendants of Major Thomas Hart, who fought in the fourth Anglo-Mysore war in 1799, are about to become very wealthy. The couple.
Auction dynamics hit State players' chances Auction dynamics hit State players' chances Auction dynamics hit State players' chances  Deccan HeraldA criticism often hurled at the Royal Challengers Bangalore, and not without reason, is the lack of faith in home-grown players. Karnataka players, who are much ...
2019 Sap Bucket Challenge and Silent Auction | Calendar  Rutland HeraldA silent auction of sap bucket masterpieces will be held during Maplefest.
World first cryptocurrency auction to take place on the North Coast of NSW  Elite AgentHistory is set to be made next month on Monday April 8 2019, when James Pratt becomes the first auctioneer to conduct a live cryptocurrency real estate auction.
Bonnie And Clyde's Poems Set To Go Up For Auction  NPROriginal poems by the gangsters Bonnie and Clyde are going up for auction on May 4 in Texas. The poems reveal a more authentic side to the often glamorized ...
George Michael's Art Collection Sells at Auction for $15 Million  Rolling StoneA two-day auction of George Michael's art collection earned over $15 million, which will be used toward the late singer's philanthropic efforts. During his lifetime ...
This auction has the earliest known mention of Babe Ruth in a newspaper and two of Paul Revere’s engravings of Boston  Boston.comIn 1914, some kid named Babe Ruth showed real promise in his pro baseball debut. This “St. Mary's schoolboy is going to do plenty of twirling,'' the Baltimore ...
Amelia Island collector car auctions reflect the new normal  The ClassicCars.com JournalEditor's note: The ClassicCars.com Journal is your source for Amelia Island news – from collector car auctions and shows to the Amelia Island Concours ...
Zurich, Aena Bid High to Win Brazil Airport Auction  BloombergFlughafen Zurich AG and Aena SME won concessions to operate airports in Brazil in an auction Friday. The tender was seen as a test of investors' appetite ...
'One big family': Butte Central prepares for 50th annual auction  Montana StandardFrom behind his desk in the office of Butte's Christie Transfer and Storage Company, John "Harp" Cote read a long list of families who have served as supporters ...
Arjun Tendulkar puts name up for Mumbai T20 league auction  SportstarArjun Tendulkar has registered himself for the T20 Mumbai League this season. The youngster will now be up for auction, which is likely to take place in the next ...
Classic Plymouth show car collection headed for auction  DrivingThree of the four custom show cars Plymouth used to promote its Rapid Transit System marketing campaign in the early 1970s are going up for auction in May ...
Auction for new Oregon Smokey Bear plate numbers 2 through 20 to benefit Keep Oregon Green  KVALEUGENE, Ore. - Do you want one of the new "Keep Oregon Green" license plates featuring Smokey Bear? The plates are coming out August 1, 2019, ...

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